Broadway Industrial Group

BROADWAY Industrial Group intends to discuss with the potential buyer of its hard disk drive (HDD) business about the next steps to take for the proposed deal, which might include extending the June 30, 2021, long-stop date. This comes as the circular for the transaction is still subject to the Singapore Exchange's regulatory review process.

In December, the mainboard-listed group signed a conditional sale and purchase agreement to sell its entire business of manufacturing actuator arms and related parts used in HDD manufacturing, for US$50 million to Chinese company Suzhou Gefan Hardware and Plastic Industrial.

Innopac Holdings

TROUBLED Innopac Holdings will be delisted from the Singapore bourse at 9am on June 30. The mainboard-listed company said there has not been any exit offer from interested parties.

The Singapore Exchange's regulatory arm clarified that the delisting notice it earlier issued to Innopac was irreversible; the company had asked for the bourse operator's views in relation to its proposed restructuring.

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GHY Culture & Media

FILM and drama producer GHY Culture & Media is looking to take a 51 per cent interest in entities of Clover Films Group, which distributes movies in South-east Asia.

GHY inked a memorandum of understanding with Clover Films' existing shareholders, who will retain the remaining 49 per cent stake in the entities after GHY's investment.

The proposed deal is part of GHY's growth strategy as it expands its geographical footprint in Singapore and South-east Asia. GHY intends to increase Clover Films' production and distribution capacity.

Fraser and Neave

BEVERAGE and publishing company Fraser and Neave's (F&N) wholly-owned subsidiary, F&N Treasury, on Wednesday issued S$100 million of 2 per cent notes due in 2026, under its S$2 billion multicurrency debt issuance programme.

The notes are unconditionally and irrevocably guaranteed by F&N. They are expected to be listed on the Singapore Exchange on June 17.

Rex International

LIME Petroleum, a 90 per cent-owned subsidiary of Rex International, will acquire a 33.8 per cent interest in the oil, gas and natural gas liquids-producing Brage field in Norway, as well as the five licences on the Norwegian continental shelf over which the field straddles, for a post-tax price of US$42.6 million.

This fulfils Lime Petroleum's ambition to transition from pure-play exploration, to a full-cycle exploration and production company.

The deal will also establish recurring cash flow, Rex said.